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World Stock Markets Trading Discussion - Neurotic nibbles


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Not too much action in the Asia Pacific region: Kiwis -0.5%, Aussies -0.6%, China -0.3%, Honkers +0.1%, Nikkers +0.2% and Sth Korea +0.1%.

Aussie sectors mostly in the red: IT -1.2%, Healthcare -1%, Gold flat and Telecomms +0.5%.

 

 

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All Ords continued down the slippery slope to close -1.3%.  All sectors were red led by IT and Healthcare, both -2.2%, Consumer Discretionary and Financials both -1.5%, Consumer Staples -1.4%.

Over in Asia, China +0.1%, Honkers +0.2%, Nikkers -0.4%, India closed.

 

 

On to UK/Europe:

 

 

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Last week, with a couple of down days, lots of posting.  Apparently that was the signal to cover shorts. We have now returned to our regularly scheduled deathly bull market silence. 

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SPX looks like at least it will back test 1840 S/R it broke.  For me this remains critical area... If market manages to plow through it solidly then watching for last wave up likely to marginal new high, but the last one in final impulse wave of this bull market forming a Wave 1 extended terminal wedge. This thing should be full of non-confirmations if this plays out.   

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The media declaration that a decline of 20% constitutes a bear market is a figment of Maria Fartaroma's rear end. The idea does not take into account normal differences in volatility in different instruments. It fails to consider the most basic measure of charting-- a trendline. 

 

The biotechs are volatile. They may be in a bear market. Or they may not. 

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